Is it "Congress's" Constitutional Duty To Raise The Debt Ceiling?

[Lesh]

Biden has already submitted a 2024 budget with zero cuts in spending.

CONGRESS is reposible for the budget

 

[Independent thinker]

I think you don't really know what the debt ceiling is.

The debt ceiling is the means by which the US pays of their debt.

The budget is the means by which you raise it.

The GOP is refusing to pay of the debt if the Democrats aren't willing to give in on the GOP budget.

See how that works?

" I will let the the household go bankrupt, if I don't get my way in how the money is spend. Said no responsible adult ever"

Democrats have already bankrupted the government and won't even talk about spending cuts.

 

[Flash]

Oh. It is fiscally responsible to both spend less and take in less revenue?

So in a household the only way to avoid debt is by spending less and not for instance getting a better job so you can earn more?

If a family is spending a ton of money on useless bullshit like our stupid Federal government is doing then you are darn right that the family should stop spending so much money.

Your analysis is also is fucked up because the goddamn Federal government doesn't earn jackshit. It just takes money that has already been earned by somebody else, leaving that somebody else poorer.

You stupid uneducated Moon Bats don't know anymore about Economics than you know about History, Biology, Climate Science, Ethics or the Constitution.

 

[Independent thinker]

It is possible that it is allowed under the constitution. The language is vague. Which is enough. I'll demonstrate.

Do you think the GOP is entitled to risk plunging the world into financial chaos because they want to reverse some of Biden's policies?

Then why doesn't Biden agree to spending cuts that don't reverse his policies? Answer: Every single one of his policies require increased spending.

 

[Mac-7]

Now if they had only done that with there was Repub sitting in the White House...but alas

Will someone that Gator is speaking to ask him to explain why more debt is a good thing?

He’s in full dem partisan “REPUBS DID IT TOO” mode without explaining why he is in love with more debt

 

[Independent thinker]

Republicans didn't pass a clean bill... So they didn't pass a raise of the debt ceiling...

Are you saying that Democrats can attach anything they want to to the debt ceiling increase the next time?

Is that fair game now...

For the debt ceiling increase the Democrats can make abortion legal until 24 weeks, secure education funding and get universal healthcare insurance when they have congress?

Republicans passed a bill to raise the debt ceiling. All you lefties are bitching about Republicans not wanting to raise the debt ceiling and yet they are the only ones who actually passed a bill to do so.

 

[Independent thinker]

How utterly fucking stupid...

Where were you when Trump Tax Cuts were coming in?

That is your deficit increase right there.... Unpaid Tax Cuts....

What? Tax revenues increased after the tax cuts. Why are you a fact denier?

 

[forkup]

Can you agree that only congress can raise the debt?

That means its not a rubber stamp

Again the language in the constitution is vague. Meaning that it's open to interpretation.

I dislike these gimmicky solutions to fundamental problems.

Having said that I dislike not paying back bonds, or destroying everybody's 401k, or demolishing social security, or a global depression, or any of a 100 foreseen or unforseen consequences of a default. That's why avoid risking it on ambiguous law is worth it.

The legislative branch has the power of the purse. I agree with that even when I vehemently disagree with how they sometimes use it. This however is not about the power of the purse.

This is about one Congress REFUSING to take responsibility for what ALL previous Congresses did, in the process hurting the entire world. That is NOT ok. And I dare you to argue against it.

 

[percysunshine]

Will someone that Gator is speaking to ask him to explain why more debt is a good thing?

He’s in full dem partisan “REPUBS DID IT TOO” mode without explaining why he is in love with more debt

Debt is great. My untaxed IRA is loaning money to the government and they will definately pay it back with interest.

 

[Independent thinker]

Prior to 1917, the United States did not have a debt ceiling, with Congress either authorizing specific loans or allowing the Treasury to issue certain debt instruments and individual debt issues for specific purposes. Sometimes Congress gave the Treasury discretion over what type of debt instrument would be issued.[2]

Between 1788 and 1917, Congress would authorize each bond issue by the United States Treasury by passing a legislative act that approved the issue and the amount.

In 1917, during World War I, Congress created the debt ceiling with the Second Liberty Bond Act of 1917, which allowed the Treasury to issue bonds and take on other debt without specific Congressional approval, as long as the total debt fell under the statutory debt ceiling. The 1917 legislation set limits on the aggregate amount of debt that could be accumulated through individual categories of debt (such as bonds and bills).

The debt ceiling was instituted as an EASIER way to increase debt

Which is exactly what this thread is about. The 1917 law is all about making it so that Congress had to debate the subject to raise the debt ceiling instead of just rubber stamping blank checks.

 

[Independent thinker]

And they would be right. We roll over the debt and the interest on it every year.

Almost always have.

Over time inflation makes it a non issue.

For instance we still carry the debt from WWII and it's insignificant

Ummmmmmmmm, having so much debt has increased inflation.

 

[candycorn]

LOL. No wonder we are at a stalemate. You refuse to even consider cutting spending, which is why we are at where we are at, your absolute refusal to cut spending.

If Congress cut spending...they wouldn't have to raise the debt ceiling.

Its a shame they didn't cut spending while there was a GOP President and they had Congress as well. The reason the stalemate exists is that the same folks who agreed to raise the debt ceiling every time it needed to be done under the blob...suddenly have decided to change course.

Please give us your lame assed excuse for why the GOP is now behaving differently--they were in the majority in the House under Trump....they are in the majority in the House now. Why the change?

 

[Lesh]

Which is exactly what this thread is about. The 1917 law is all about making it so that Congress had to debate the subject to raise the debt ceiling instead of just rubber stamping blank checks.

It was NOT. It was about making it easier to borrow. Reading is fundamental

 

[Independent thinker]

14th Amendment

Section 4​

The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

SHALL NOT BE QUESTIONED

That's in the Constitution

Yes, we already know what your masters are claiming. Hell, even Biden knows that argument is nothing but BS.

 

[Lesh]

What? Tax revenues increased after the tax cuts. Why are you a fact denier?

Ah jesus this bunch of bullshit again

Tax revenues ALWAYS increase unless we are in a Recession. You understand what GDP INCREASE means?

No? Oh

 

[Independent thinker]

You are confused Moon Bat. We don't have a problem because we don't tax enough. We have a problem because we spend too much money.

The US Federal government spends and borrows more money than the GDP of all but two other countries on earth. Then, on top of that, the State and Locals spend a like amount.

The fucking cost of government in this country is almost 40% of GDP and that is way too much.

The only fiscally responsible thing to do is spend less money. It is stupid and fiscally irresponsible to borrow money and increase taxes.

If you are confused about how much money this fucking government spends on stupid and unnecessary things I will be glad to list some of them for you. Like giving money to the Illegals and spending billion on stupid EV charging stations. Want more examples since you seem ignorant on the subject?

Boggles my mind that the left believe that the rich can come up with 32 trillion dollars, not to even mention the fact that if the rich could come up with 32 trillion dollars, lefties would spend another 64 trillion dollars.

 

[postman]

So, if it was set up that it is up to Congress to raise the debt ceiling then that pretty much means that it isn't an automatic thing if they have to decide to do it. So, it is not Congress's Constitutional duty to just raise the debt ceiling automatically because it was set up that they debate it.

Actually based on how the US operated from 1789 thru 1917 it was the job of congress to raise revenue through taxes or debt, to finance their budgets and authorizations.

 

[forkup]

If a family is spending a ton of money on useless bullshit like our stupid Federal government is doing then you are darn right that the family should stop spending so much money.

Your analysis is also is fucked up because the goddamn Federal government doesn't earn jackshit. It just takes money that has already been earned by somebody else, leaving that somebody else poorer.

You stupid uneducated Moon Bats don't know anymore about Economics than you know about History, Biology, Climate Science, Ethics or the Constitution.

It's about income. Their are 2 ways to balance a budget not one . One is to decrease spending the other is by increasing revenue.

And when you say useless what is to you useless.

The government provides certain services. Sometimes they benefit a person directly sometimes indirectly, sometimes not at all. But they all benefit someone.

I have no problem acknowledging that it is sometimes wasteful. But most of the time it usefull and even essential.

You want to discuss which is which fine. But don't tell me that your opinion is the only valid one.

 

[Independent thinker]

Inflation Calculator | Find US Dollar's Value From 1913-2024

Easily calculate how the buying power of the U.S. dollar has changed from 1913 to 2024. Get inflation rates and U.S. inflation news.

www.usinflationcalculator.com

Adjusted for inflation it was NOT 32 trillion

It was FORTY TWO trillion

LOL. So now you're saying we have paid down 10 trillion dollars in debt.

 

[Independent thinker]

You want to cut spending?

A. You should have done it in the past under Trump when you had Congress. You didn't. You're not serious OR honest

B . If cutting spending has merit...do it the way it's supposed to be done. In the budget process....not with a gun to the head of our economy. If it has merit...it should be easy

So, you are for runaway spending.